Can Silver Pull Gold Higher?

Although COMEX Gold offered no similar encouragement, March Silver’s rally on Monday was strongly impulsive, implying as it has that the futures are a decent bet to reach the 17.295 target within the next 2-3 days. Moreover, if buyers are able to push this vehicle just a nickel or so higher overnight, that would significantly shorten the odds the target will be achieved, perhaps as early as Tuesday night. A move above the red line is key, however, especially with gold futures in a funk.

For your information, I have lower targets outstanding for Feb Gold, the most immediate of which lies at 1149.40. If that Hidden Pivot support were to be breached by more than $2 (or so), a worst-case target at 1105.80 would be in play for the near term.

********

If you don’t subscribe, you can access the chat room and all of Rick's trading 'touts' instantly by clicking here for a no-risk, two-week trial